4B — October 16 - 29, 2015 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey
Port market demand spurs interest in 530 Duncan Ave. C&W brokers 19,400 s/f HQ lease for Standard Logistics
Where Experience Yields Solutions
ERSEY CITY, NJ — Cushman & Wakefield has brokered a long-term, 19,400 s/f headquarters lease with Standard Logistics at 530 Duncan Ave. in Jer- sey City. A division of Evans Delivery Company, the third- party logistics firm relocated locally to the warehouse/distri- bution property in an expan- sion move. Cushman & Wakefield’s Daniel Badenhausen and Andrew Stypa of the com- mercial real estate services firm’s Edison, NJ, office, rep- resented Standard Logistics as well as property owner Engels J
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530 Duncan Ave.
Trucking (a long-time client) in the transaction. The building sits on 4.5 acres in the heart of New Jersey’s
port submarket. It features a 36-door cross-dock terminal and ample accommodations
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f o r t r u c k and trailer p a r k i n g . “This level of cross-dock funct i onal - ity is lacking in the port, which really sets this prop- erty apart,” Badenhau - s e n s a i d . “ A s s u c h , the offering drew signifi- cant inter - est. We had a half-dozen viable candi- dates for the space.”
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Daniel Badenhausen
Andrew Stypa
Under the Evans Delivery Company umbrella, Standard Logistics is part of the Evans Network of Companies. That market-leading logistics part- ner has revenues totaling over $250 million. “This is a grow- ing company that operates on a great platform,” Badenhau- sen said. “It was time for a more robust facility, and 530 Duncan Ave. met Standard Logistics’ needs perfectly. The building is just down the road from its former headquarters, which made the transition seamless.” According to Badenhau- sen, strong demand in the port submarket continues unabated. “The Port of NY/NJ is a major driver of the New Jersey industrial market, as is the region’s proximity to the largest population concentra- tion in the country,” he said. “Companies in the third-party logistics, e-commerce, and food and beverage indus- tries, especially, are eager to establish or grow their local footprints here, resulting in strong competition for quality properties like 530 Duncan Ave.” n
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